Another man mentions that a nice car is a way to get "pussy," and he mentions that "the 'vette gets 'em wet." He then describes a woman, talking about her getting hot, her "thighs steam," and says she has a great body, with good titties and an ass like a "10-year old boy", and that she could suck-start a leafblower.

A woman strips down to her underwear in front a man. A lot of cleavage is shown as well as her buttocks and her genitals are barely covered. She then performs a very seductive dance for the man which lasts several minutes.

The main reason for the R rating is most likely the brief strong language. Many PG-13 films today are more violent. If Cameron had censored the use of P---y, this easily would have passed with a PG-13.

Spoilers

The Parents Guide items below may give away important plot points.

Violence & Gore

The villain is killed when he hangs on a jet piloted by the protagonist who turns the jet sideways, making the villain get stuck on a missile. The protagonist then fires the missile, sending the villain flying into a helicopter, killing him with a huge explosion.